New York, USA, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to the newly published Research Dive report, the global gene synthesis market is expected to gather $42,14,890.1 thousand by 2028 and rise at a stable CAGR of 18.5% in the 2021-2028 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the gene synthesis market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2021-2028. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market
Drivers: Strategic alliances between leading players in the gene synthesis market are predicted to propel the market in the forecast period. Additionally, the increased demand for gene synthesis in clinical testing across the world is predicted to help the market grow substantially in the forecast period.
Opportunities: The growth in the population with genetic and chronic disorders is predicted to offer numerous growth opportunities to the market in the forecast period. Furthermore, the growing prevalence of genetic synthesis in healthcare is anticipated to push the market forward.
Restraints: However, according to market analysts, lack of skilled professionals might become a restraint in the growth of the gene synthesis market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The gene synthesis market, however, faced a tremendous positive impact of the pandemic. The widespread use of gene synthesis in scientific research helped in the growth of the market during the pandemic years.
Segments of the Market
The Research Dive report has fragmented the gene synthesis market across different segments such as method, end user, and region.
Method: Solid Phase Synthesis Sub-segment to be the Most Profitable
By method, the solid phase synthesis sub-segment is expected to be the most lucrative sub-segment and generate a revenue of $20,06,287.7 thousand by 2028. The efficient, faster, and economical nature of the solid-phase synthesis method as compared to other gene synthesis methods is expected to boost the growth of the sub-segment in the forecast period.
End User: Academic & Research Sub-segment to be the Most Lucrative
By end-user, the academic & research sub-segment is expected to be the most profitable and generate a revenue of $17,36,534.7 thousand by 2028. High use of gene synthesis in academic & research due to government support and funding is expected to boost the growth of this sub-segment in the forecast period.
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Region: Market in the Asia-Pacific Region be the Fastest Growing
By regional analysis, the gene synthesis market in Asia-Pacific region is predicted to register a revenue of $9,14,631.1 thousand by 2028, thereby being the fastest-growing one. The increasing population with genetic defects and chronic diseases has resulted in an increase in demand for gene synthesis which is predicted to be the primary driver of the market in the forecast period.
Prominent Market Players
Some prominent players in the gene synthesis market are
- GenScript
- Codex DNA
- Thermo Fisher Scientific Inc.
- Brooks Automation Inc. (GENEWIZ)
- Biomatik
- Integrated DNA Technologies Inc.
- Boster Biological Technology
- ProMab Biotechnologies Inc.
- OriGene Technologies Inc.
- Twist Bioscience
These players are introducing and coming up with new technological advancements and innovations to gain primacy in the market.
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For instance, in January 2022, Univercells SA, a leading life sciences company, announced that it had signed a definitive acquisition agreement with SynHelix, a biotechnology company. This acquisition agreement is expected to help the acquiring company, i.e., Univercells SA immensely as it will be able to cater to the demands of the healthcare and biopharmaceutical industry in a much better way.
Finally, this comprehensive report also summarizes many crucial facets of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Gene Synthesis Market:
- What Makes Gene Synthesis a Better Process of Developing Artificial Genes Compared to Traditional Molecular Cloning?
- Global Gene Synthesis Market’s Growth to Boost with Rising Implementation of Gene Synthesis Techniques in Biological Research Processes
